Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Mariner LLC

Mariner LLC grew its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,893 shares of the company’s stock after purchasing an additional 676 shares during the period. Mariner LLC’s holdings in Penske Automotive Group were worth $441,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Penske Automotive Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company’s stock worth $304,757,000 after buying an additional 12,912 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Penske Automotive Group by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares in the last quarter. American Century Companies Inc. boosted its holdings in Penske Automotive Group by 17.4% in the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock valued at $39,560,000 after purchasing an additional 38,388 shares during the period. Bruni J V & Co. Co. grew its stake in Penske Automotive Group by 1.9% during the 4th quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company’s stock worth $30,510,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its holdings in Penske Automotive Group by 0.8% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company’s stock worth $27,891,000 after purchasing an additional 1,486 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Penske Automotive Group Trading Up 1.0 %

Shares of Penske Automotive Group stock opened at $157.11 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $153.45 and a 200-day simple moving average of $158.16. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 11.43 and a beta of 1.03. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. Penske Automotive Group’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.11%. Penske Automotive Group’s payout ratio is 34.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PAG shares. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Stephens reiterated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. Citigroup assumed coverage on shares of Penske Automotive Group in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective on the stock. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.00.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.